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it. >> our old hopes of rising above just a lost cause at this stage. grover norquist, the president for americans for tax reform is coming on the show next because almost every republican member of congress has signed his pledge not to raise taxes. we'll get his take at what is i would say a very critical juncture. >> and also estate taxes scheduled to jump from 15% to 35% with montana land values more than doubling in past decades. farmers and ranchers are up in arms because the impact estate tax would have on their ability to hang on to their land. we'll speak with one of them coming up in the next half hour. >> also weighing in is outgoing montana governor brian schitser who was a farmer and rancher himself so he should know a thing or two about that. >> plus, health care sunday the microscope right now. we'll find out if this year's winners can carry their mojo into next year. you're watching cnbc, first in business worldwide. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah,
pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >> he's becoming irrelevant. you can see it in his eyes. he knows the game is up. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. >> i'm going to be the one to determine what a tax increase is. grover norquist is not going to determine what a tax increase is. >> message seems clear. don't fear the grover. that echoes throughout the upper echelons of the gop. >> boehner tput tax revenues on the table and we heard nothing from norquist. this is a false drama, manufactured by people like you who can't stand norquist. >> people like me? >> the fiscal cliff is a big deal because it's kind of like a vampire and garlic. once you go over the cliff, tax rate go up so much, anything is a tax cut beyond nat. the thing is if you're actually raising taxes from a current policy tax line, you would violate his pledge, but once they go up automatically, cutti
to want to take it. >> that's a fascinating job as well. number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been a major player, a huge figure, and yet the push back has been growing. the tide has been swelling. take a look at this montage clip of republicans pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >> he's becoming irrelevant. you can see it in his eyes. he knows the game is up. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. >> i'm going to be the one to determine what a tax increase is. grover norquist is not going to determine what a tax increase is. >> message seems clear. don't fear the grover. that echoes throughout the upper echelons of the gop. >> boehner put tax revenues on the table and we heard nothing from norquist. this is a false drama, manufactured by people like you who can't stand norquist. >> people like me? just because t
-- >> they cannot cross over the threshold that has been built by grover norquist. >> well, harry reid says he is the reason there is no deal on the fiscal cliff. we're going to ask grover norquist himself if there's any room for compromise when he joins us live. you've got to stay with us right here on the "closing bell." we're now down 133 points on the dow. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin react
of all the games going on and there are you, grover norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two years or something. >> whoa, hang on, hang on. that was a bit below the belt, grover. >> hey, if you think a commitment is not for as long as you make it for, the commitment for the pledge as peter king well knows when he signed it is as long as you're in congress you will rein in spending and reform government, not raise taxes. it's not for 500 years or two generations. it's only as long as you're in the house or the senate. if he stayed too long, that's his problem. but you don't tell the bank, oh, the mortgage, wasn't that long time ago? if you make a commitme
, that there are those good intentions that never through. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and gdp, other economic data points. >> it puts republican caucus in the house in the position of having to decide whether no deal is better than a bad deal. >> you know, melissa, if i could chime in, one thing, you didn't hear the president talking about the debt ceiling, and the treasury secretary says we'll start running up against the debt ceiling on monday. that's a very controversial piece of the whole deal. they are talking about leaving that aside and revisiting it when we run out of the extraordinary measures that the treasury can put in place to keep us from hitti
norquist and his pledge? >> it's odd because grover was the one sort of outside government institution on the conservative side who agreed with speaker boehner's plan "b" which would have allowed taxes to go up above $1 million in income. all the other conservative groups say no. i think grover's pledge, i don't know where it goes from here. obviously is doesn't have as much teeth as is it did because there are people who are willing to buck it. >> i think the key thing with the grover pledge though is that republicans feel like they're in such a corner here, the house is in disarray, boehner doesn't really know where his caucus is going to go. they're not really worried about grover's pledge. they're more worried about rebuilding the party and surviving this horrible moment when they barely control one chamber. >> okay. so i want to run this by you. charles krauthammer from "the washington post" has suggested this kind of complicated theory that the president has a bigger plan here. wonder if we can play this tape of what he says the president's strategy is. >> he's been using this, a
is a way to walk the following line. allow their members to observe the grover norquist pledge and not raise taxes, which means they can't vote before midnight tomorrow to raise taxes. they could easily do that when the calendar turns into the next year. they could do that at any point, be consistent with their pledge and kind of walk away with their chins high. again, presumably observing some sort of line that the president supports about tax increases or in that case not having tax cuts for a few of the upper percentage taxpayers. that's something, again, that doesn't violate any republican pledge, so i think as a practical matter, and we heard this when plan "b" was pulled by speaker boehner, the perception is they can't allow themselves to vote for a tax increase. they don't want to get primaried, but come the new year they have an out which allows them to actually cut a deal. mitch mcconnell i think heinz what he says that he wants to get something done because they don't want to see the economy go into a tailspin. they read the same polls that you and i read which is tha
not deliver because they refused because of grover norquist not to allow any tax revenues whatsoever. meetings with vice president biden and cantor. cantor walked out of those meetings. he's the majority leader in the house. the gang of six, the gang of eight. we had this super committee, and they were doing good things, good things, dealing with entitlements and revenues, and a week before they would report by virtue of statute i get a letter signed by every republican too, bad about the super committee, we're not going to do anything with revenues, so this is not a capsule of a couple of days. this has been going on for years. they cannot cross over the threshold that has been built by grover for vist. people who are rich who make a lot of money, her not opposing raising taxes on them. the only people in america who don't think taxes should be raised on the rich are the republicans who work in this building. any time bhth speaker and the republican leader come to the president and say we've got a deal for you. the president's door is always own, and mine is, too. >> the senate is back in ses
this and then the promised spending cuts, you know what they're all going hear in their head. grover norquist telling them they never come. they're the unicorn that doesn't exist. >> a lot of republicans at this point will say, you know what? after all of this they may not be saying publicly now, but they'll say let's just take the sequester and at least we'll be cutting some spending and we'll be cutting the actual spending and take that sequester. >> last word. >> i don't disagree with you and jimmy on this point. this is not a deficit reduction deal that will stabilize the debt to gdp ratio and that has to be -- that has to be one of the goals of a broader deal that now we're probably going to be looking for on the other side of the cliff. >> yeah. i don't know. it doesn't seem to be any part of the president's goal. jared, good to see you always. jimmy, you, too. we'll get you guys back in just a few minutes. we'll get you to the roundtable if you haven't had enough yet. what will it mean for banks? new analysis shows that the expiration ever tax cuts will improve bank savings in 2013, by, listen to t
'm so glad. ( laughter ). >> when ronald reagan was president, grover norquist was in diapers and rush limbaugh was a disk jockey, i think, in st. louis. you have had a hermetically sealed culture grow up on the right in this country that as we saw during the last election, is removed from reality and is extreme in the most egregious way. >> and you don't have to go all the way-- >> it's much further than that. when bill clinton passed that budget deal, he didn't get a single republican vote. and there hasn't been a republican vote for tax increases in 20 years, and if the deal falls apart today-- which i think it probably will-- the reason is there will be no republican votes. even in the senate, much less to the house for a tax increase, which is what they're talking about. >> in the short term there's no political penalty to pay for that, back to your point, i guess, that we re-elected both a democratic president and because-- because of jerry manneddering, so there's no political price to pay so members of congress with vote in the interest of the their constituents and not the bes
are you talking about tonight? >> about this, grover norquist to talk about it. >> love him. >> he's got to be annoyeded. >> on where is the commonground. >> thank you, ger. crude at $90.98 a barrel, up $2.37 a barrel. weaker dollar adding to that too. you saw the pictures on the eastern sea board, middle east headlines pushing prices higher. reports say that iraqi kurds suspended production by 180,000 a day. that's going to be bullish news there on the price of crude. >> a lot going on, and not all the fiscal cliff i should say, thankfully. what it means for you and your taxes. you got to hear this. >> forget holiday cheer, the top box office winners ahead. as we do every day at this time, favorite time of the day, the bond yield. there's the ten year. the perceived security of u.s. debt, the long bond. back in a moment. ♪ >> here's your fox business brief. well, more good news for recovery in the housing market in october. the latest index shows prices in the 20citi watt group, 23% year over year. chicago and new york the only cities with annual negative returns. there's a deal with
to the right of rick santorum. he took the grover norquist pledge. he did all the things that were required of a potential republican nominee. but in each of those steps, he made it harder for him to win a general election. and he brought to this some strengths. the other thing that will the president four years ago was that romney was the likely nominee because i believe in the theory of opposites. whoever the incumbent is, people are looking for the brevity, not the replica. and romney would represent a stark difference from obama, a businessman, grounded, not a visionary, not an order for. >> so you thought he would be the nominee. you thought that through the whole entire primary process? >> i had a few moments of doubt, as i suspect he may have. but he got to those moments was to do what i said, to move to the right. with each step, i think he made himself more vulnerable. in the abstract, his profile as a businessman will stay positive, even until the final day. it was the concept of a businessman who knows how to create jobs and so on. that was their message and that was not a bad me
the president and boehner, both times boehner could not deliver because they refused because of grover norquist to allow any taxes for revenues whatsoever. we had meetings with the vice president biden and cantor. he walked out of it. he's the majority leader in the house. we had this supercommittee and they were doing good things. good things. dealing with entitlements and revenues and a week before they were to report, by virtue of a statute, i get a letter signed by virtually every republican, too bad about the supercommittee. we're not going to do anything with revenues. >> okay. i think that's a good place to end this. what you're hearing is the history of what has happened to bring us to this point. i want to bring in our congressional correspondent dana bash. dana, i was just sitting here imagining someone turning on their tv thinking, what a these people talking about? and i think i would sort of boil it down to this. when they are talking on the floor, that's never a good sign. they should be talking in a back room. they have gotten nowhere. we are where we are and nobody has agreed on
on boehner's plan b. house congressman steve latourette, by the way someone who has repudiated grover norquist's pledge joins us next. >>> and mark zuckerberg's sister confused about facebook's privacy settings. we'll have the details of that ahead. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok.
built into a broad media system. we can talk about the primary electorate but people like grover norquist and rush limbaugh and cable television trucks and talk-radio and they might otherwise be willing to look for solutions and can't because if they do they are dead if. they are beyond outrageous and you get no push back because whenever you have a political figure who just try is a little bit to say that is too much the new world of the media basically tells us that the business model that works is the fox news model and somehow a network of an audience at any given time as to in the half million people they can make more profits than all three network news divisions combined with an audience of 40 million people. and is that true? >> $700 million. it's enormously successful. and if we abandon that business model, if fox news to mauro says all right, here is the new message from roger ailes, can't we all just get along? we may not like what this president likes to do but he is a good man and we can find ways to work with them. i will guarantee you is that within a week there wo
't think said people exist in the republican party. listen, the answer is grover norquist no new tax pledge. that alone would free the republican party to engage in good faith, sensitive negotiations. everybody knows that our taxes are now at an historic low in the contemporary era and they're going to go out sort of naturally. and with the aging of the population, i guarantee you will be somewhere around 22% gdp. wouldn't it be nice if we could acknowledge that and say what's the most bowl, efficient way to structure a tax system, probably progressive consumption tax direct it in ways to accomplish a whole host of object is. as long as you have that pledge to which members signed, it's hopeless. the republican party cannot be a player in any constructive resolution of the problems confronting the country. there is no political space for a third-party to occupy. it's based on a presumption. we have two extreme parties and there's this great center to mobilize and i'm deeply skeptical that there's room for such a party and would really play a constructive role. is it going to get worse than
Search Results 0 to 16 of about 17